TITLE:
Towards Scientific Economics
AUTHORS:
Mieczysław Dobija, Bartosz Kurek
KEYWORDS:
Theory of Economics; Scientific Economics; Science; Capital; Capital Growth Model
JOURNAL NAME:
Modern Economy,
Vol.4 No.4,
April
30,
2013
ABSTRACT: Economic thought still confronts with new problems
arising together with the advancement of civilization. Economic matters are driving
forces of human interactions so economics is expected to reveal why people, companies,
banks, and governments behave in particular modes. B. Khumalo [1] is the author
of a recent article in which he proposes a definition of economics that is adjusted
to present times. Our article continues these considerations, since both terms:
capital and resources have essentially changed their meaning. Though economics is
still the study of a production and a distribution of goods, we recognize that labor
of people and assets, which lead to the increase of concentration of capital in
products is a driving force of economic activities as well. Essential explanations
of a core triad: capital, labor and money accompany the proposed definition of economics.